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Fresh Del Monte Produce Inc. (symbol: FDP) is a globally recognized leader in the production, marketing, and distribution of high-quality fresh and fresh-cut fruits and vegetables. The company is also a key player in the production and distribution of prepared healthy snacks, primarily serving markets in Europe, Africa, and the Middle East. Operating under the esteemed Del Monte® brand, known for its commitment to innovation, quality, freshness, and reliability for over a century, Fresh Del Monte Produce Inc. has established a robust presence in more than 100 countries around the world.
The company operates through three main segments: Fresh and Value-Added Products, including pineapples, fresh-cut fruit, fresh-cut vegetables, melons, vegetables, non-tropical fruit, and avocados; the Banana Segment; and Other Products and Services, which includes third-party freight and logistics services, and the Jordanian poultry and meats business.
Fresh Del Monte Produce Inc. is dedicated to meeting the evolving needs of health-conscious consumers by providing a range of convenient, nutritious, and wholesome food products. The company's long-term vision is to become the leading global supplier of healthful, fresh, and prepared foods and beverages, catering to consumers of all ages.
Recent achievements include expansions in their product offerings and strategic partnerships aimed at enhancing their supply chain and distribution capabilities. Financially, Fresh Del Monte has shown resilience and adaptability, maintaining strong performance despite market fluctuations. The company's operations in North America, Europe, Asia, the Middle East, and other regions contribute significantly to its overall revenue, with North America being the largest market.
Through its commitment to quality and sustainability, Fresh Del Monte continues to uphold its reputation as a trusted brand, ensuring that consumers worldwide have access to fresh, nutritious, and delicious food.
Fresh Del Monte Produce Inc. (NYSE: FDP) has been ranked eighth in Newsweek's 2024 list of the World's Most Trustworthy Companies in the Food & Beverage category. This recognition, presented in collaboration with Statista, is based on an independent survey of over 70,000 participants across 23 industries in 20 countries. Participants rated companies on Investor Trust, Customer Trust, and Employee Trust.
Chairman and CEO Mohammad Abu-Ghazaleh expressed pride in this achievement, attributing it to the company's pursuit of excellence, transparency, and trust. Fresh Del Monte, a leading producer and distributor of fresh and fresh-cut fruits and vegetables, emphasizes the importance of trust in fostering customer loyalty, strengthening brand reputation, boosting employee morale, and building investor confidence.
Fresh Del Monte Produce Inc. (NYSE: FDP) has appointed Danny Dumas as Senior Vice President of Sales, Marketing & Product Management for North America. With over 35 years of industry experience, Dumas will oversee key operations in one of the company's largest markets. His role includes managing sales, marketing, product management, technical services, and quality assurance for port operations.
Dumas's appointment aligns with Fresh Del Monte's focus on sustainable growth, innovation, and operational excellence. His extensive career includes senior leadership roles at Calavo Growers and previous experience at Fresh Del Monte. CEO Mohammad Abu-Ghazaleh emphasized Dumas's expertise in produce sales, global logistics, and product management as important for expanding value-added product offerings and maintaining high standards of quality and customer service.
Fresh Del Monte Produce Inc. (NYSE: FDP) has appointed Dr. Imad Farhat as Senior Vice President, Specialty Ingredients. Dr. Farhat will lead the company's efforts to develop innovative, nature-derived ingredients that align with Fresh Del Monte's mission of providing healthful products to consumers worldwide. His focus will be on:
1. Harnessing nature's power for long-term strategy in the ingredients industry
2. Developing products rooted in circular economy principles
3. Creating wholesome options that resonate with health-conscious consumers
4. Utilizing residuals from Fresh Del Monte's operations to achieve sustainable practices
Dr. Farhat brings nearly 20 years of experience from dsm-firmenich and has an extensive background in food science, with over 70 scientific publications and numerous patents.
Fresh Del Monte Produce Inc. (NYSE: FDP) has appointed Dr. Nizar Haddad as Director of Innovation and Business Development and General Manager of De l'Ora Bio, a partnership with Vellsam Materias Bioactivas. This move aims to enhance operational efficiency and product innovation. Dr. Haddad will lead De l'Ora Bio's focus on converting pineapple byproducts into high-quality biofertilizers, aligning with Fresh Del Monte's goals of reducing waste and improving resource utilization.
Dr. Haddad, formerly the Director General of Jordan's National Agricultural Research Centre, brings expertise in agricultural innovation and sustainable development. His role will be important in advancing Fresh Del Monte's innovation strategy and setting new benchmarks in biofertilizer production. This appointment underscores Fresh Del Monte's commitment to sustainable agriculture and operational excellence.
Fresh Del Monte Produce Inc. (NYSE: FDP) has announced its participation in TD Cowen's 2nd Annual Sip, Snack and Scrub Summit, scheduled for September 17, 2024, at the Westin New York Grand Central in New York, NY. Senior Vice President and CFO Monica Vicente, along with Vice President of Investor Relations Christine Cannella, will represent the company in one-on-one meetings with investors during the conference.
Interested parties unable to attend can arrange calls with management by contacting Christine Cannella directly. This event provides an opportunity for Fresh Del Monte to engage with investors and discuss the company's performance and strategies in the produce industry.
Fresh Del Monte Produce (NYSE: FDP) reported Q2 2024 financial results. Net sales dropped to $1,139.7M from $1,180.5M YoY, driven by lower banana sales offset by higher prices in fresh and value-added products. Gross profit decreased to $113.2M from $116.8M, impacted by higher production costs and weather-related events. Operating income was $68.2M, down from $72.1M, with a net income increase to $53.6M from $47.7M. The company saw improved margins in fresh products but declines in bananas due to competitive pressure and exchange rate impacts. Long-term debt reduced by 29% to $285M. A $0.25 per share dividend is announced, payable on September 6, 2024.
Fresh Del Monte Produce (NYSE: FDP) has won the 'Overall Food Innovation of the Year' in the 2024 Mindful Awards for its Del Monte® Precious Honeyglow™ pineapple. This new personal-size pineapple weighs less than two pounds and offers an extra sweet taste and golden hue. The product was selected from thousands of nominations worldwide for its innovative design to reduce food waste by providing consumers with more sizing options.
The Precious Honeyglow™ pineapple is the most compact in Del Monte history, weighing between 1.5 and 2 pounds, about half the size of a traditional pineapple. It's part of Fresh Del Monte's line of Honeyglow® pineapples, grown in Costa Rica and left to mature naturally on the plant for extra sweetness. This innovation aligns with the company's focus on offering convenient ways for consumers to incorporate fresh fruits into their diets while emphasizing sustainability and eliminating food waste.
Fresh Del Monte Produce Inc. (NYSE: FDP) has announced it will release its second quarter 2024 financial results after market close on Thursday, August 1, 2024. The company will host a conference call at 4:45 p.m. Eastern Time on the same day to discuss these results. Institutional investors, analysts, and other financial community members are invited to join the call by dialing specific numbers for domestic and international participants. An audio webcast of the conference call will be accessible through the company's Investor Relations page, with an archived replay available shortly after the event concludes.
Fresh Del Monte Produce (NYSE: FDP) has been awarded the 2024 SEAL Business Sustainability Award for its JUNTOS Project. This initiative, launched in 2021 in partnership with the German Development Cooperation (GIZ), focuses on landscape restoration, water conservation, and sustainable community development in Costa Rica and Guatemala.
The JUNTOS Project has successfully reforested 348 hectares, proposed over 400 hectares for wildlife refuges, conserved 10,000 hectares for biodiversity, and established five educational alliances. The project aims to expand into other green economies, promoting sustainability education and practices. Fresh Del Monte's commitment to sustainability includes reducing emissions, minimizing food waste, and adopting regenerative agriculture.
This marks the third time Fresh Del Monte has been honored by the SEAL Awards, which recognize companies for their leadership and innovation in sustainable business practices.
Fresh Del Monte celebrates International Pineapple Day with a new survey and the launch of the 'You're Welcome™' campaign in North America. The survey highlights pineapples as one of America's favorite fruits, revealing that 60% of shoppers struggle to select a ripe pineapple. Fresh Del Monte, a leader in pineapple production, aims to address this gap and further increase pineapple consumption, which has doubled over the past 20 years. The 'You're Welcome™' campaign includes social media content, recipes, and nationwide advertising, celebrating the company's legacy of innovation and sustainability in pineapple production.
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